Cambridge Investment Research Advisors Inc. Has $11.28 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Cambridge Investment Research Advisors Inc. raised its stake in Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 12.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 462,938 shares of the oil and gas producer’s stock after acquiring an additional 50,951 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Enterprise Products Partners were worth $11,282,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Glassy Mountain Advisors Inc. increased its position in Enterprise Products Partners by 2.7% in the 1st quarter. Glassy Mountain Advisors Inc. now owns 61,212 shares of the oil and gas producer’s stock valued at $1,580,000 after acquiring an additional 1,586 shares in the last quarter. Advisory Services Network LLC grew its position in shares of Enterprise Products Partners by 13.2% during the 1st quarter. Advisory Services Network LLC now owns 112,738 shares of the oil and gas producer’s stock worth $2,909,000 after buying an additional 13,114 shares during the period. Atria Investments LLC acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth approximately $1,467,000. Great Valley Advisor Group Inc. grew its position in shares of Enterprise Products Partners by 0.4% during the 1st quarter. Great Valley Advisor Group Inc. now owns 131,917 shares of the oil and gas producer’s stock worth $3,397,000 after buying an additional 539 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of Enterprise Products Partners by 5.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 2,237,895 shares of the oil and gas producer’s stock worth $57,760,000 after buying an additional 115,519 shares during the period. Institutional investors and hedge funds own 27.29% of the company’s stock.

Enterprise Products Partners Stock Down 1.9 %

Enterprise Products Partners stock opened at $24.92 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.87 and a quick ratio of 0.65. Enterprise Products Partners L.P. has a fifty-two week low of $20.42 and a fifty-two week high of $28.65. The company’s 50 day simple moving average is $26.30 and its 200 day simple moving average is $26.00. The firm has a market capitalization of $54.31 billion, a price-to-earnings ratio of 11.23 and a beta of 1.15.

Enterprise Products Partners (NYSE:EPDGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. Enterprise Products Partners had a net margin of 9.54% and a return on equity of 18.97%. The firm had revenue of $16.06 billion for the quarter, compared to analyst estimates of $11.96 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The business’s revenue was up 69.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.52 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were paid a $0.475 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $1.90 dividend on an annualized basis and a yield of 7.62%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.47. Enterprise Products Partners’s payout ratio is presently 85.59%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EPD. TD Securities lifted their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. UBS Group lifted their price target on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, July 8th. US Capital Advisors reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, June 1st. Finally, Raymond James lifted their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 4th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Insider Buying and Selling at Enterprise Products Partners

In related news, Director John R. Rutherford purchased 6,500 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were purchased at an average price of $25.78 per share, with a total value of $167,570.00. Following the completion of the purchase, the director now owns 113,941 shares in the company, valued at approximately $2,937,398.98. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 37.50% of the company’s stock.

About Enterprise Products Partners

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Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

See Also

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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